Off the wire
• Nobel Prize-winning economist believes in future of China  • China, Grenada celebrate 10th anniversary of ties resumption  • Industrial action to resume in Belgium  • OECD recommends tax reform for Colombia  • Burkina Faso hope to recover after false start in 2015 Africa Cup  • 18 pct more Chinese visit Holland in 2014, fastest growth  • 1st LD: Shiite Houthi gunmen seize presidential palace in Yemen's capital  • Xinhua world news summary at 1530 GMT, Jan. 20  • Bulgarian president calls for urgent reforms  • Philippines starts preparing for annual National Games  
You are here: 　 Home

U.S. stocks open higher amid earnings, speculation on ECB stimulus

Xinhua, January 20, 2015 Adjust font size:

U.S. stocks opened higher Tuesday after closing on Monday for a public holiday, as investors were assessing corporate earnings and awaiting the European Central Bank's (ECB) policy decision on Thursday.

Morgan Stanley reported net revenues of 7.76 billion U.S. dollars for the fourth quarter of 2014, down 1 percent from 7.85 billion dollars a year ago.

Quarterly income from continuing operations applicable to Morgan Stanley rose to 1 billion dollars from 95 million dollars a year ago, but its adjusted per-share earnings of 39 cents still missed market forecast.

Shrugging off weak earnings from the major U.S. bank, investor sentiment was bolstered by speculation that the ECB could expand its monetary stimulus by announcing a government bond buying program at a meeting on Thursday.

Shortly after the opening bell, the Dow Jones Industrial Average added 72.70 points, or 0.42 percent, to 17,584.27. The S&P 500 rose 9.01 points, or 0.45 percent, to 2,028.43. The Nasdaq Composite Index gained 26.73 points, or 0.58 percent, to 4,661.12.

U.S. stock markets were closed on Monday for the Martin Luther King, Jr. Day.

Last Friday, U.S. stocks rebounded after five consecutive sessions of losses on better-than-expected earnings from Goldman Sachs, upbeat consumer sentiment and surging oil prices, but the three benchmark indices still capped last week with losses. Endi